Investor sentiment effect in stock markets: stock characteristics or country-specific factors?
Fecha
2013Versión
Acceso abierto / Sarbide irekia
Tipo
Artículo / Artikulua
Versión
Versión aceptada / Onetsi den bertsioa
Impacto
|
10.1016/j.iref.2013.02.001
Resumen
This paper analyzes the investor sentiment effect in four key European stock markets: France, Germany, Spain and the UK. The findings show that sentiment has a significant influence on returns, varying in intensity across markets. The variation appears to involve both stock characteristics and cross-country cultural or institutional differences. The results also show sensitivity to the choice of ...
[++]
This paper analyzes the investor sentiment effect in four key European stock markets: France, Germany, Spain and the UK. The findings show that sentiment has a significant influence on returns, varying in intensity across markets. The variation appears to involve both stock characteristics and cross-country cultural or institutional differences. The results also show sensitivity to the choice of sentiment proxy. [--]
Materias
Sentiment,
Stock market,
Stock characteristics,
Country-specific factors,
European stock markets
Editor
Elsevier
Publicado en
International Review of Economics and Finance 27 (2013) 572–591
Departamento
Universidad Pública de Navarra. Departamento de Gestión de Empresas /
Nafarroako Unibertsitate Publikoa. Enpresen Kudeaketa Saila
Versión del editor
Entidades Financiadoras
This paper has received financial support from the Spanish Ministry of Science and Innovation (ECO2009-12819) and from the
Spanish Ministry of Economy and Competitiveness (ECO2012-35946-C02-01).
Aparece en las colecciones
Los documentos de Academica-e están protegidos por derechos de autor con todos los derechos reservados, a no ser que se indique lo contrario.
La licencia del ítem se describe como © 2013 Elsevier Inc. The manuscript version is made available under the CC BY-NC-ND 4.0 license.
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